AdBri delisting plan

AdBri delisting plan
Published: 05 January 2004

Boral will seek to have Adelaide Brighton delisted from the Australian Stock Exchange if its $A840m takeover bid succeeds. The Australian building products group is offering $A1.55 a share for the cement and lime producer. The offer is conditional on 90 per cent acceptances and approval by the Australian Competition & Consumer Commission (ACCC). Boral indicated in its bidder's statement that if it acquired 100% of Adelaide Brighton, it would reconstitute the company's board with Boral nominees. Boral also said it would dispose of selected concrete masonry assets in Victoria, New South Wales and South Australia if required to do so by the ACCC.